Not asking for how much you make, just want to see if anyone here in the USA felt the tax "increase" resulting from the expired Bush tax cuts?

Last week my paycheck was about $40.00 smaller.

But, the company gave out raises, and it's back to what it was before.

What about you

[Edited 1/10/13 8:07am]

About 50 bucks smaller.

I find it funny how they fought tooth and nail to keep tax cuts for the richest of us, but the payroll tax holiday and the working tax credit died without so much as a wimper.

My check was smaller, but I believe in social security so it doesn't bother me. I can afford it and I recognize I'm lucky to be able to afford it.

I expect to pay my share.

Assuming one did not get a raise in the last four years, then one's paycheck is now exactly what it was right before Obama took office.

Y'all DO know the payroll tax "increase" is actually the expiration of a payroll tax CUT that Obama and the Democrats got enacted four years ago, right?

Don't expect any of your Republican friends to tell you this.

RodeoSchro said:

Assuming one did not get a raise in the last four years, then one's paycheck is now exactly what it was right before Obama took office.

Y'all DO know the payroll tax "increase" is actually the expiration of a payroll tax CUT that Obama and the Democrats got enacted four years ago, right?

Don't expect any of your Republican friends to tell you this.

I thought that (4 years ago), that was just an extension of the Bush tax cuts?

PurpleJedi said:

RodeoSchro said:

Assuming one did not get a raise in the last four years, then one's paycheck is now exactly what it was right before Obama took office.

Y'all DO know the payroll tax "increase" is actually the expiration of a payroll tax CUT that Obama and the Democrats got enacted four years ago, right?

Don't expect any of your Republican friends to tell you this.

I thought that (4 years ago), that was just an extension of the Bush tax cuts?

Nope, not the payroll tax (2%) drop that expiried. That was Obama.

RodeoSchro said:

Assuming one did not get a raise in the last four years, then one's paycheck is now exactly what it was right before Obama took office.

Y'all DO know the payroll tax "increase" is actually the expiration of a payroll tax CUT that Obama and the Democrats got enacted four years ago, right?

Don't expect any of your Republican friends to tell you this.

Oh I knew it was a tax cut that expired but look how they fought to keep the rich folks their tax cut. It's BS.

CarrieMpls said:

PurpleJedi said:

I thought that (4 years ago), that was just an extension of the Bush tax cuts?

Nope, not the payroll tax (2%) drop that expiried. That was Obama.

Exactly. More than half of Obama's $700 billion stimulus was actually that tax cut. Only about $300 billion was new spending.

That's why guys like Paul Krugman kept saying Obama hadn't increased spending enough.

When the payroll tax "holiday" went into effect, I just increased my 401K contribution by 2%. So I never had that money in my pocket, to begin with. I didn't expect the holiday to be permanent, so I figured I'd trade retirement for retirement.

I got a raise last year, so even with the 2% in payroll tax taken back out, my paycheck is still a little to the good - even with the higher 401K contribution.

Plus, I'm contributing to my flexible medical account again this year. (In an epic screw-up, I somehow managed not to do that last year - which was terrible.) So I figure I'll save way more than 2% on my medications and other out-of-pocket medical expenses this year.

Everything's fine.

[Edited 1/10/13 9:45am]

Find out tommorow!

I need to change my w4 which will mean a little less a month but I do not pay Social Security Tax so my taxes will not go up.

but we should KNOW by now that as your current health care plan goes into reset mode (mine resets Sept 1) we will all see an increase in all same plane premiums--unless they already increased them last time. Even if your company covers the increase that just creates an illusion. So enjoy!

OnlyNDaUsa said:

I need to change my w4 which will mean a little less a month but I do not pay Social Security Tax so my taxes will not go up.

but we should KNOW by now that as your current health care plan goes into reset mode (mine resets Sept 1) we will all see an increase in all same plane premiums--unless they already increased them last time. Even if your company covers the increase that just creates an illusion. So enjoy!

How?

$35 less.

PurpleJedi said:

OnlyNDaUsa said:

I need to change my w4 which will mean a little less a month but I do not pay Social Security Tax so my taxes will not go up.

but we should KNOW by now that as your current health care plan goes into reset mode (mine resets Sept 1) we will all see an increase in all same plane premiums--unless they already increased them last time. Even if your company covers the increase that just creates an illusion. So enjoy!

How?

i am exempt. i pay medicare but not SS! Sweet! I am glad I am not in that mess!

Genesia said:

When the payroll tax "holiday" went into effect, I just increased my 401K contribution by 2%. So I never had that money in my pocket, to begin with. I didn't expect the holiday to be permanent, so I figured I'd trade retirement for retirement.

I got a raise last year, so even with the 2% in payroll tax taken back out, my paycheck is still a little to the good - even with the higher 401K contribution.

Plus, I'm contributing to my flexible medical account again this year. (In an epic screw-up, I somehow managed not to do that last year - which was terrible.) So I figure I'll save way more than 2% on my medications and other out-of-pocket medical expenses this year.

Everything's fine.

[Edited 1/10/13 9:45am]

this is sort of where i am. i didn't increase the 401(k) contribution, but i was doing contributions to my HSA up through july, and flex account and LTD all year.

since my employer is going to kick in for the HSA to the legal max this year, and i will have a slightly larger dental bill this year, i upped my flex and 401(k) contributions. i'm waiting to see on tuesday how it all shakes out.

i am very happy that even if my paycheck is $40-$50 less, it's not going to break me. i'll just pull back on my automatic savings deduction. a lot of people don't have the money to pull back, you know? i know how blessed and lucky i am.

kibbles said:

Genesia said:

When the payroll tax "holiday" went into effect, I just increased my 401K contribution by 2%. So I never had that money in my pocket, to begin with. I didn't expect the holiday to be permanent, so I figured I'd trade retirement for retirement.

I got a raise last year, so even with the 2% in payroll tax taken back out, my paycheck is still a little to the good - even with the higher 401K contribution.

Plus, I'm contributing to my flexible medical account again this year. (In an epic screw-up, I somehow managed not to do that last year - which was terrible.) So I figure I'll save way more than 2% on my medications and other out-of-pocket medical expenses this year.

Everything's fine.

[Edited 1/10/13 9:45am]

this is sort of where i am. i didn't increase the 401(k) contribution, but i was doing contributions to my HSA up through july, and flex account and LTD all year.

since my employer is going to kick in for the HSA to the legal max this year, and i will have a slightly larger dental bill this year, i upped my flex and 401(k) contributions. i'm waiting to see on tuesday how it all shakes out.

i am very happy that even if my paycheck is $40-$50 less, it's not going to break me. i'll just pull back on my automatic savings deduction. a lot of people don't have the money to pull back, you know? i know how blessed and lucky i am.

I do know. I, like you, am not one of them - now. But I can remember a time when a 2% drop in each check would have been huge, for me.

OnlyNDaUsa said:

PurpleJedi said:

How?

i am exempt. i pay medicare but not SS! Sweet! I am glad I am not in that mess!

I've never heard of anyone being 'exempt' before...does this mean you aren't going to collect?
(NOT that any of us are going to be able to collect when we retire, lol)

PurpleJedi said:

OnlyNDaUsa said:

i am exempt. i pay medicare but not SS! Sweet! I am glad I am not in that mess!

I've never heard of anyone being 'exempt' before...does this mean you aren't going to collect?
(NOT that any of us are going to be able to collect when we retire, lol)

Do not feed the troll.

They will just keep gettin smaller, I'm sure.

LadyCasanova said:

They will just keep gettin smaller, I'm sure.

WAIT...are we still talking paychecks, or are you confusing this with the "guys in underwear in cold weather" thread discussion?

Genesia said:

kibbles said:

this is sort of where i am. i didn't increase the 401(k) contribution, but i was doing contributions to my HSA up through july, and flex account and LTD all year.

since my employer is going to kick in for the HSA to the legal max this year, and i will have a slightly larger dental bill this year, i upped my flex and 401(k) contributions. i'm waiting to see on tuesday how it all shakes out.

i am very happy that even if my paycheck is $40-$50 less, it's not going to break me. i'll just pull back on my automatic savings deduction. a lot of people don't have the money to pull back, you know? i know how blessed and lucky i am.

I do know. I, like you, am not one of them - now. But I can remember a time when a 2% drop in each check would have been huge, for me.

lord, yes. not that long ago, either.

Y'all are scaring me now. I already don't know what my check is going to be because of a new payroll system that started at the first of the year but I already know it's going to be less because of that and I already live paycheck to paycheck as it is. We've always got paid semi-monthly on the 15th and the last day of the month. Now we're going to start getting paid every other Thursday. The other way, there was 24 pay periods a year but this way, there is 26. So do you think we will get two extra checks a year like we should? Hell no. Instead, they decide to take the yearly salary that we already make and divide it by 26 instead of 24 which means less money on each check. Uh...excuse me, but we always been considered "semi-monthly" salaries, not "yearly" salaries. I tell ya, they will twist anything in their favor to where we're the ones with less money rather than them. They sure as hell didn't mind it when there were five weeks in a month when we got paid semi-monthly and got screwed out of a week of pay but when the shoe is on the other foot and they have to pay every other Thursday regardless of how many weeks are in the month, they start changing things in their favor. Hell, we're the ones that need the money, not them.

What's this with the taxes? I thought it was for people that make over $200,000 or $250,000 a year. Hell, I only make about $20,000 a year and I need every dollar that I already bring home. In fact, I need a huge raise. I won't get my first check until January 17th and it's already going to be less because of this new payroll system. I don't need to be even more less because of something else. I already have to dip into my emergency savings from time to time as it is.

.

.

.

[Edited 1/10/13 14:50pm]

PurpleJedi said:

OnlyNDaUsa said:

i am exempt. i pay medicare but not SS! Sweet! I am glad I am not in that mess!

I've never heard of anyone being 'exempt' before...does this mean you aren't going to collect?
(NOT that any of us are going to be able to collect when we retire, lol)

I may be able to as I have payed into it enough already.

RodeoSchro said:

PurpleJedi said:

I've never heard of anyone being 'exempt' before...does this mean you aren't going to collect?
(NOT that any of us are going to be able to collect when we retire, lol)

Do not feed the troll.

do you want me to post a screen cap of my pay slip?

OnlyNDaUsa said:

RodeoSchro said:

Do not feed the troll.

do you want me to post a screen cap of my pay slip?

The same guy who is worried about posting 'private' information?

I worked off the books for many years and racked up,but I think it was a huge mistake.I got no social security for it.Do I have to submit proof of my earnings to Social Security administation to qualify?Im gonna have to pay taxes.

Oh well,Im probally not gonna live long enough to collect SS anyway.

SUPRMAN said:

OnlyNDaUsa said:

do you want me to post a screen cap of my pay slip?

The same guy who is worried about posting 'private' information?

i can take a photo of it without revealing any info

Because of my line of work paycheck varies job to job. But i got a little bit of a decrease of about 50 bucks starting this week... but oh well.

As usual just happy to be doing what i love

CarrieMpls said:

My check was smaller, but I believe in social security so it doesn't bother me. I can afford it and I recognize I'm lucky to be able to afford it.

I expect to pay my share.